1002 State StRockford, IL 61104
For Sale
$229,000
View listing
- Commercial real estate
- 3,787 SF
Property Details for 1002 State St
- Year built
- 1920
- Construction
- WOOD
- Lot size
- 0.05 AC
- Property size (Sq ft)
- 3,787 SF
- Zone code
- C2
- Property type
- Commercial real estate
- APN
- 11-23-479-003
- APU
- 1123479003
Description
This exceptional mixed-use property in Rockford, Illinois, presents a lucrative investment opportunity. The building comprises three commercial spaces and three residential apartments, offering diverse income streams. Recent upgrades significantly enhance the property's value and appeal. The roof was replaced in 2017, ensuring long-term protection. Furthermore, the furnace and central air conditioning system were completely updated in 2024, providing efficient climate control. Electrical panels in the apartments were also replaced in 2022, enhancing safety and reliability. Heating and cooling systems vary by unit: the first-floor barber shop features gas forced air and AC
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $782,674
- Hospitality
- $716,925
- Educational
- $596,473
- Medical
- $616,987
- Retail
- $927,847
1002 State St, Rockford, Illinois
Location Insight
- City
- Rockford
- County
- Winnebago
- State
- Illinois
- Latitude
- 42.2671
- Longitude
- -89.0815
- CBSA code
- 40420
- CBSA name
- ROCKFORD, IL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,990
$3,599
$25,196
$28,795
-
$10,797
$75,588
$86,385
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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